Krispy Kreme (NASDAQ:DNUT) Price Target Raised to $19.00 at Citigroup

Krispy Kreme (NASDAQ:DNUT) had its price target increased by analysts at Citigroup from $14.00 to $19.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 23.78% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. dropped their price objective on Krispy Kreme from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, March 19th. Capital One Financial initiated coverage on Krispy Kreme in a research report on Monday, January 22nd. They set an “equal weight” rating and a $16.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Krispy Kreme currently has a consensus rating of “Hold” and an average target price of $16.06.

Krispy Kreme Stock Performance

Shares of DNUT stock traded down $2.00 during trading hours on Wednesday, reaching $15.35. 18,075,438 shares of the company’s stock were exchanged, compared to its average volume of 1,834,625. The company has a market cap of $2.59 billion, a P/E ratio of -69.68, a price-to-earnings-growth ratio of 4.45 and a beta of 1.43. The company’s 50 day moving average is $13.09 and its two-hundred day moving average is $13.24. Krispy Kreme has a 1 year low of $11.52 and a 1 year high of $17.84. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.33 and a quick ratio of 0.26.

Krispy Kreme (NASDAQ:DNUT) last issued its earnings results on Tuesday, February 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $450.90 million for the quarter, compared to analysts’ expectations of $438.95 million. Krispy Kreme had a positive return on equity of 2.02% and a negative net margin of 2.25%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company posted $0.11 earnings per share. Equities research analysts anticipate that Krispy Kreme will post 0.17 EPS for the current fiscal year.

Insider Transactions at Krispy Kreme

In related news, Director Michael J. Tattersfield sold 100,000 shares of Krispy Kreme stock in a transaction on Monday, March 11th. The stock was sold at an average price of $12.82, for a total value of $1,282,000.00. Following the transaction, the director now owns 2,936,940 shares in the company, valued at $37,651,570.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors have recently added to or reduced their stakes in DNUT. Hsbc Holdings PLC grew its position in Krispy Kreme by 157.1% during the fourth quarter. Hsbc Holdings PLC now owns 6,978,000 shares of the company’s stock valued at $106,130,000 after acquiring an additional 4,263,574 shares during the period. Banco Santander S.A. boosted its position in shares of Krispy Kreme by 158.4% in the second quarter. Banco Santander S.A. now owns 6,798,212 shares of the company’s stock worth $100,138,000 after buying an additional 4,167,588 shares during the period. Bamco Inc. NY boosted its position in shares of Krispy Kreme by 59.5% in the third quarter. Bamco Inc. NY now owns 9,221,657 shares of the company’s stock worth $114,994,000 after buying an additional 3,439,948 shares during the period. BlackRock Inc. boosted its position in shares of Krispy Kreme by 177.4% in the first quarter. BlackRock Inc. now owns 4,543,907 shares of the company’s stock worth $67,477,000 after buying an additional 2,905,778 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Krispy Kreme by 91.7% in the first quarter. Vanguard Group Inc. now owns 5,674,509 shares of the company’s stock worth $84,267,000 after buying an additional 2,714,348 shares during the period. Hedge funds and other institutional investors own 81.72% of the company’s stock.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.